Standard Motor Products, Inc. Taps Kyriba to Automate Cash Management

Standard Motor Products, Inc. Taps Kyriba to Automate Cash Management
06.01.2017 06:30 am

Standard Motor Products, Inc. Taps Kyriba to Automate Cash Management

Cash management , Risk Management

Kyriba Corp., the global leader in cloud-based treasury, cash and risk management solutions, today announced Standard Motor Products, Inc. (NYSE: SMP) selected Kyriba to automate its cash management operations, create a single source of information and data archive with the added benefit of reducing paper, a green initiative for the organization.   

Established in 1919, Standard Motor Products is a leading independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket, heavy duty, industrial equipment, original equipment manufacturer, and original equipment service markets. SMP supplies warehouse distributors, large retail chains, original equipment manufacturers and original equipment service part operations with high quality replacement parts for engine management ignition, emission and fuel systems as well as temperature control air conditioning and heating products in the United States, Canada, Latin America, and Europe.

James J. Burke, Executive Vice President Finance and Chief Financial Officer, Standard Motor Products, said: “We are taking a progressive approach to cash management, and look forward to automating the rigors of daily cash positions with Kyriba so our team can focus on higher level tasks. After a detailed research process for a treasury management solution, we realized Kyriba’s modular SaaS offering combined with their reputation for excellent customer service was best aligned to our requirements.”

Jean-Luc Robert, Chairman and CEO, Kyriba, said: “Automation adds security and reduces manual tasks, which creates operational advantages for organizations such as Standard Motor Products and others who have high transaction volumes. We are seeing more organizations turn to the cloud to reduce paper storage as part of their green initiatives.”

Related News

Planixs Announces Its Global Solution Provider Partner Programme

Planixs, the leading provider of real-time, intraday cash, collateral and liquidity management solutions, today announced that it has launched its global solution provider... Read more »

Deployers Use Different Strategies for Cash Replenishment and Servicing of Branch and off-site ATMs

Cash replenishment and first line maintenance typically outsourced to the same provider

RBR’s Global ATM Market and Forecasts to 2024 report... Read more »

Slide rebrands to SlideBy

Small business cash flow forecasting app, Slide, has today announced its rebrand to SlideBy. 

SlideBy exists because most small business failures happen when they run... Read more »

UK SIPP provider doubles customer growth using Cashfac Virtual Accounts

Leading provider of self-invested pension products integrates Cashfac’s flagship solution to drive process automation and increase productivity

A leading provider of... Read more »

NatWest launches UK’s first safe with automated account crediting

NatWest has launched the UK’s first intelligent cash management solution for businesses, in partnership with G4S. Intelligent Safe is an innovative and secure cash solution... Read more »

Leading UK Wealth Manager selects Cashfac to orchestrate cash movements and real-time operational accounting.

Cashfac is delighted to announce that one of the UK’s largest wealth manager and specialist SIPP provider - trusted by thousands of investors with billions of pounds in pension... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel